Ad-hoc Disclosure acc. to Art. 17 MAR: United Internet resolves share buyback program for up to EUR 150 million
Montabaur, April 1, 2020. With the approval of the Supervisory Board, the Management Board of United Internet AG has today resolved to launch a new share buyback program. In the course of this share buyback program up to 5,000,000 shares of the company (corresponding to approx. 2.58 % of the share capital of EUR 194,000,000) are to be bought back via the stock exchange. The volume of the share buyback program amounts to EUR 150 million in total. The program is to be launched on April 3, 2020 and will last at the latest until August 31, 2020.
United Internet AG is thus utilizing the authorization issued by the company’s Annual Shareholders' Meeting of May 18, 2017 to buy back shares until September 18, 2020 representing up to 10% of the company's share capital at the time of the resolution or, if the amount is lower, at the time when exercising the authorization. On the basis of the authorization, 12,635,523 shares (approx. 6.51 % of the share capital) have already been bought back. The company currently holds 6,338,513 treasury shares from previous share buyback programs, corresponding to approx. 3.27 % of the share capital.
Treasury shares can be used for all purposes permitted by the authorization of the Annual Shareholders' Meeting of May 18, 2017. The shares may also be cancelled.
The share buyback will be based upon the provisions of Regulation (EU) No. 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. Further details will be published before the start of the share buyback program. United Internet AG reserves the right to cancel the share buyback program at any time.